A variety of different unique factors can complicate property division during divorce proceedings. Sometimes, spouses disagree about what assets are worth. Other times, there may be conflict related to what assets are marital and which ones are separate.
Spouses may also have challenges related to misconduct, including the dissipation of marital property or attempts to hide marital assets. When property division involves complicating factors, spouses may end up going to trial instead of settling outside of court.
In scenarios where people anticipate facing a complex property division process in court, they may need to partner with not just an attorney but also expert witnesses. These witnesses can help clarify financial issues to ensure a fair outcome. How can specialists influence the property division process during a divorce?
Assisting with valuation
In cases where spouses disagree about the value of different resources, expert testimony can make a major difference. Real estate professionals can testify about the current and likely future fair market value of investment properties.
Specialists can also provide insight into the value of collectibles, antiques or investment holdings. Establishing a reasonable fair market value for assets is a critical component of resolving complex property division matters.
Validating allegations of misconduct
Sometimes, people need help reviewing financial records to affirm their allegations of misconduct. They may require the insight of a financial specialist.
A forensic accountant can trace income and assets. They can help prove that one spouse hid assets from the other or failed to disclose personal resources to the courts during the discovery process. They can also help support allegations of dissipation by establishing a paper trail related to the waste of marital assets or spending related to an extramarital affair.
Helping separate property
Expert witnesses, including forensic accountants, can also help clarify the nature of various resources. A thorough review of financial records could help prove that certain assets are separate property or that certain debts may be the separate financial obligation of one spouse.
Expert witnesses can help make sense of complex financial evidence and can help spouses push for a fair divorce outcome. Getting the right assistance may make a major difference for people preparing for upcoming divorce proceedings. Those with complex marital property and challenging financial issues may need support as they prepare for asset division proceedings.
